The assets section of a classified balance sheet usually includes the subgroups: Multiple Choice Current

assets, liabilities, plant assets, and intangible assets.

Current assets, long-term investments, plant assets, and equity.

Current assets, long-term investments, plant assets, and intangible assets.

Current liabilities, long-term investments, plant assets, and intangible assets.

Current assets, long-term assets, revenues, and intangible assets

Question

Business

Elena Bernard

14 October, 01:56

The assets section of a classified balance sheet usually includes the subgroups: Multiple Choice Current

assets, liabilities, plant assets, and intangible assets.

Current assets, long-term investments, plant assets, and equity.

Current assets, long-term investments, plant assets, and intangible assets.

Current liabilities, long-term investments, plant assets, and intangible assets.

Current assets, long-term assets, revenues, and intangible assets

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Answers (1)

Know the Answer?

Ollie · Answer 1

The correct answer is letter "B": Current assets, long-term investments, plant assets, and intangible assets.

Explanation:

A classified balance sheet is a detailed report including specific information about the company's assets, liabilities, and shareholder's equity. This balance sheet itemizes details regarding current assets, long-term investments, fixed assets, intangible assets, current liabilities, long-term liabilities, and shareholder's equity.

Classified balance sheets do not have a set of classified accounts that must be used, thus, the information included relies on the manager's needs based on current and long-term transaction data.